Discussion in 'Forex Brokers' started by FXCM Rep 1, Mar 26, 2007.
Great thing about forums we can always come back to say told you so, give them 2-4 months tops.
My heads up on I-Trade-FX.
I did some DD on these guys a while back before all these accounts were transferred over to them and I found enough red flags to stay away from them.
I actually visited their office which I will admit was well setup and professional, but thats where the professionalism ends.
First off the bat, "the president" is a 20 year old kid sitting in daddy's chair.
This wouldnt be a problem except that "daddy" is nothing but an online trade picks website guy( http://www.forextips.com/ ).
No one at the company management level had any prior experience in the industry as per the NFA website. Some were registered but no one ever worked in the industry prior to the "picks" website.
Here is "the president" 3rd profile down:
Lastly I think they fail to post their spreads for a good reason, they suck. I dont remeber all of the but I remembeber the USDCHF was 5 pips and the GBPJPY was something retaded like 15 pips. All i know is they all sucked.
I went with FXCM instead. Not the greatest place but at least you know what you get with them.
I dont buy for a minute that they outbid anyone tho to get these fund. Ive heard rumors that the old scammers used private funds and poured them into itradefx to keep the accounts. But beyond rumors i have not seen any proof.
Florida is scam central tho when it comes to investment scams.
You can also see some people had bad time trying to get their money out after the buyout:
Separate names with a comma.